Apple, Inc. is larger than all public companies in Russia COMBINED. Yep-that’s a fact illustrated in our recent blog post. We bring this up again because Apple gave us a look into the future this week. The iPhone 6 is VERY cool but we are more impressed with the possibilities of a watch that can pay for your meals, track your pulse, remind you of an upcoming meeting, steer you in the right direction, send a message, check your e-mail, and make phone calls. The possibilities for this innovation are endless.
Technology is the X factor that Economist cannot calculate when looking at traditional benchmarks. Economist are trained to rely on statistics like GDP which were designed for a “steel-and-wheat economy”, not the technology rich economy of today. Click Here to read more on this topic in a recent Wall Street Journal article by Joel Mokyr.